Former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor, LLP are investigating the sale of Complete Genomics, Inc. (“GNOM”) (NASDAQ: GNOM) to Chinese company BGI-Shenzhen for shareholders. The proposed transaction is a cash deal whereby Complete Genomics shareholders will receive $3.15 for each share of GNOM stock owned, well below the 52-week high of $7.73 per share and at least one analyst’s estimated value of $5.00 per share. There is no cost or fee to you, so if you are an affected investor and want to learn more about the lawsuit or join the action, contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at firstname.lastname@example.org, or Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 706-9314, or via email at WBriscoe@TheBriscoeLawFirm.com. The Complete Genomics buyout investigation centers on whether GNOM shareholders are receiving adequate compensation for their shares in the buyout, whether the transaction undervalues GNOM stock, and whether GNOM’s board attempted to obtain the highest share price for all shareholders prior to agreeing to the deal. Notably, at least one analyst with Yahoo! Finance has estimated that the true inherent value of the GNOM is as high as $5.00 per share, well above the proposed sale price. “Because the proposed price appears to undervalue the shares, we want to ensure that the transaction is fair for shareholders. Our lawsuit will seek to obtain the highest possible share price for all shareholders,” said shareholder rights attorney Willie Briscoe. The Briscoe Law Firm, PLLC is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters. Powers Taylor, LLP is a boutique Dallas litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.
Complete Genomics (Nasdaq:GNOM) is trading at unusually high volume Tuesday with 5.6 million shares changing hands. It is currently at four times its average daily volume and trading down 23 cents (-7.7%).